Category: IBC-IBBI
IBC needs systemic rather than legal reforms – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/ibc-needs-systemic-rather-than-legal-reforms/article67834957.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/ibc-needs-systemic-rather-than-legal-reforms/article67834957.ece The IBC has been amended on many occasions since its inception in 2016. For now, the priority should lie in fixing the
The Cinderella of insolvency | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/the-cinderella-of-insolvency-122061701077_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Newsletter_11072018 Undermining operational creditors is against the basic spirit of IBC The Insolvency and Bankruptcy Code (IBC) 2016, aims at resolution of stress of a company,
*****All liabilities extinguished – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-others/all-liabilities-extinguished/article65288031.ece Dollar heap in thumbs down shape, dollar rate falling | Photo Credit: Makhbubakhon Ismatova It is an established principle of law that once
IBBI bars IIV Registered Valuers Foundation from enrolling members for 6 months – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/money-and-banking/ibbi-bars-iiv-registered-valuers-foundation-from-enrolling-members-for-6-months/article64908122.ece Insolvency regulator, IBBI, has barred IIV Registered Valuers Foundation, a Registered Valuers Organisation (RVO), from enrolling any new member for a period of
Negligible revenues, insufficient collateral yet Srei Group lenders gave crores to obscure firms – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/corporate-governance/negligible-revenues-insufficient-collateral-yet-srei-group-lenders-gave-crores-to-obscure-firms/primearticleshow/88285684.cms SynopsisAmid insolvency proceedings, Srei Group-owned lenders’ decisions, taken as recent as two years back, could bring more trouble for the group. Documents filed
IBC: Time is right for stressed asset investors to play a more meaningful role – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/ibc-time-is-right-for-stressed-asset-investors-to-play-a-more-meaningful-role/articleshow/88405503.cmsSynopsis The Insolvency and Bankruptcy Code was enacted in 2o16 but its yet to gain popularity. The stressed asset market in India is estimated
Reliance, partner looking to buy bankrupt textile company Sintex | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/mukesh-ambani-s-reliance-looking-to-buy-bankrupt-textile-firm-sintex-121121200290_1.html Reliance is partnering with Assets Care & Reconstruction Enterprise Ltd. to bid for the company under a court-appointed bankruptcy resolution process, Sintex said
How NSEL lost ₹633 crore to an “uncondonable” delay – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/how-an-uncondonable-delay-cost-nsel-633-crore/article37909203.ece The Supreme Court of India has described the delay as “uncondonable” The National Spot Exchange of India is again in the news for
McNally Sayaji: NCLAT dismisses Kotak Mahindra Bank’s appeal to set aside insolvency proceedings order – The Financial Express
Clipped from: https://www.financialexpress.com/industry/mcnally-sayaji-nclat-dismisses-kotak-mahindra-banks-appeal-to-set-aside-insolvency-proceedings-order/2379387/ The Kolkata bench of the National Company Law Tribunal (NCLT) had admitted ICICI Bank’s application under Section 7 of the IBC for initiating
Govt. Company cannot be immune from IBC proceedings–TAXGURU.IN
Clipped from: https://taxguru.in/corporate-law/govt-company-immune-ibc-proceedings.html ATE Projects Pvt. Ltd. Vs Rajasthan Drugs and Pharmaceuticals Ltd. (NCLT Jaipur) A ‘Government Company’ as defined under Section 2(45) of the Companies
Personal guarantors may be part of cross-border insolvency framework | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/personal-guarantors-may-be-part-of-cross-border-insolvency-framework-121111900034_1.html The cross-border insolvency framework is yet to be notified under the Insolvency and Bankruptcy Code Illustration: Binay Sinha Taking lessons from recent big-ticket
Expect two major amendments in IBC soon, says Finance Ministry sources – BusinessToday
Clipped from: https://www.businesstoday.in/latest/economy/story/bttv-exclusive-expect-two-major-amendments-in-ibc-soon-says-finance-ministry-sources-312683-2021-11-18 The govt is in serious discussion on amending the IBC law. Public consultation for both the amendments is expected to roll out early
NCLAT orders KS Oils liquidation; raps NCLT for lapse of 981 days – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/nclat-orders-ks-oils-liquidation-raps-nclt-for-lapse-of-981-days/article34093544.ece ‘Delay in resolution defeats purpose of Insolvency Code’ The National Company Law Appellate Tribunal (NCLAT) has directed initiation of liquidation process of leading
IBBI bares regulatory teeth against 2 IPs for misconduct – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/ibbi-bares-regulatory-teeth-against-2-ips-for-misconduct/article33233791.ece Both can’t take fresh assignments till exonerated of charges In separate cases, insolvency regulator IBBI’ s Disciplinary Committee has come down heavily on
Jet Airways’ lenders approve resolution plan after 16-month long wait – The Financial Express
Clipped from: https://www.financialexpress.com/industry/jet-airways-lenders-approve-resolution-plan-after-16-month-long-wait-bankrupt-firm-airline-aviation-sector/2107938/ Jet Airways went into bankruptcy in 2019 after it failed to repay mounting debt, reflective of the nation’s struggling aviation sector. Jet Airways’
Tread with caution to ensure compliance with competition law: CII tells cos amid COVID-19 crisis – The Economic Times
Clipped from: https://economictimes.indiatimes.com At a time when coronavirus pandemic has disrupted economic activities, industry body CII on Sunday said companies must tread with caution when looking
Budget 2020: Amend IBBI rules for payment of dues during insolvency process, MSMEs tell FM Sitharaman – The Financial Express
Budget 2020-21: The amendment proposed would include the payments due to small businesses from corporate debtors before and during the CIRP Union Budget 2020 India
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